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View Diary: Lend to the Colleges, not the Students (11 comments)

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  •  Eh...why would any school want to take (1+ / 0-)
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    on someone who is guaranteed to make a smaller income?  Why would a law school take someone who wants to be a PD over someone who wants to work for a firm if the guaranteed return is lower?

    •  Colleges have very high fixed costs (0+ / 0-)

      and very low marginal costs.

      The buildings and the grounds have to be maintained just as well for 3,000 students as for 4,000 students.

      The English professor has to be paid the same salary no matter how many students are in the American literature class.

      Colleges really want to take just about everybody that wouldn't blemish their reputation.

      If the English professor has to make a print run of 30 copies instead of 20 copies that will cost the school about 10 cents a copy.

    •  Many law students want to get into a big firm (0+ / 0-)

      Some will actually get in. Most will burn out at a corporate firm long before the eighteen years of repayment are up.

      A very select few will make partner at a big firm.

      Many will collect debt, represent alleged DWI clients, write and probate wills or wrangle with or for insurance companies.

    •  My former neighbor's daughter (0+ / 0-)

      used to work at an art auction house.

      She now makes over $100,000/year as a software expert.

      Another daughter was an office helper. Her company gave her a shot at sales after another person couldn't cut it and she now makes well over $100,000/year.

      Both daughters, like their mom, are very pleasant.

      I used to make more per hour in 1986 than a corporate law firm trainee. I now make very little money.

      Such is life.

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